TMBA 279: Can Your Mastermind Offer Insurance Against Failure?

Today’s episode is all about facilitating high level masterminds, and nobody does it better than Taylor Pearson. It can be hard to figure out what it takes to succeed. Masterminds put you in a position to surround yourself with people who have common goals and will not allow you to fail. This is old school block-and-tackle business strategy. We’re talking about what is important to consider when structuring a mastermind, what we would consider to be an ideal mastermind group, and some of the most useful tools for organizing an effective mastermind group.

Listen to this week’s show and learn:

The two major benefits of being a part of a great mastermind.

Some success stories from the groups that Taylor has spearheaded.

Why you should be working with people who share the same set of business values.

Thanks for this, guys, I just started leading a mastermind group of about 4 other people and I want to help everyone get results. I like the suggestion of asking the pointed questions and having a hot seat for one person every session. Hopefully, facilitating masterminds can be one of my income streams in the future.

Hey Nathaniel, glad you enjoyed it… I don’t even know where to start, I have endless examples of honing stratetic ideas (by pitching them in masterminds) or getting fed them outright, for example the idea /concept for the DC was given to me by a more experienced entrepreneur in a mastermind

Thanks for the SOP google docs. Love to see how others structure business tasks.

stefandoering

Nice. Really experienced advice. Similar to Taylor, the way we select members for our mastermind groups include the 10 C’s:

1. Chemistry—mutual respect and are energized by each other.
2. Communication—comfortable and able express themselves freely.
3. Committed—making the team a priority: punctual and ready “work” together for at least three months.
4. Comfortable—life is already going well and they are not looking to “fix” things. They are basically happy.
5. Connected—already tapped into their source energy and the
spiritual world or express a sincere desire to obtain it.
6. Contributor—have an innate desire to personally make a real difference for the team.
7. Coach-able—open to taking the coaching recommendations.
8. Currency—respectful and honoring each team member’s
resources.
9. Confidentiality—everything discussed is held in strict confidence.
10. Captivating—ensure the group stays light and fun… lots of laughter.

Great episode guys. I just had Taylor on my podcast to discuss the sales page that you’ll need to put together when reaching out to potential mastermindees (not sure if that’s a thing). He also shared a real life application on how he’s using this strategy to write his book and recommended “Work The System” by Sam Carpenter for people who aren’t system driven.

Dan here’s the link to the podcast Taylor and I did. Finally got it up!
This will be a nice addition to TMBA 279. In addition to the above mentioned, we also dug into the sales letter. Linked up you guys in the show notes. http://eventsupremacy.com/taylorpearson

Hello guys, just heard this episode of your podcast. I have a question around Masterminds and SaaS. So we all know the value of “good” masterminds and also the cost associated with joining one. What if there was a service for say $20/month to join a mastermind with class “A” players in there with the likes of Tim Ferris etc. So $20 would be the cost of admission to watch these “masterminds” and learn from them. There would be a panel of 6 and follow the 2 week rotation per member. The CEO “facilitator” of the MM can then rotate this 6 people every 12 weeks for 6 new people.

I know that I don’t have $1000/month for a high level mastermind group, but I sure can benefit from being a fly on the wall for $20/month and possibly get the same value as I would paying for a high level MM. This way you could also scale MM’s and make them more accessible to the general public.

Hey Amit thank you for the question! We’re going to take a stab at it on the “mastermind” FAQ podcast we’re producing early next week and will email it to those subscribed to the mastermind list. Really appreciate it.